Volantio Secures $2.6M Series B Financing

ATLANTA--(BUSINESS WIRE)--Volantio, a global leader in post-booking revenue and capacity
optimization software for airlines, today announced a $2.6M funding
round led by Ingleside Investors and strategic investors International
Airlines Group (IAG), JetBlue Technology Ventures, and Qantas Ventures.

“We are extremely proud that the investment arms of three key global
aviation leaders, spanning three distinct geographies, have chosen to
back Volantio and its market leading technology” said Azim Barodawala,
Volantio’s CEO.

YanaTM, Volantio’s flagship web-based platform, leverages
machine learning algorithms to drive higher unit revenues and improved
capacity utilization after customers have booked their flights, while
also improving overall customer experience. Airlines use the technology
to proactively identify flexible passengers on high demand flights, make
them offers to move to lower demand flights, and automatically rebook
them once they accept. Passengers are notified, via mobile, days in
advance of departure, minimizing last-minute hassle and providing enough
time to change plans accordingly. Offers can include upgrades, travel
vouchers, and frequent flier points.

"Our platform provides a rare triple-win,” said Barodawala. “Flexible
passengers receive a benefit for changing their travel plans,
last-minute travelers are able to access flights that otherwise would
have been full, and airlines can better maximize network capacity and
unit revenue, while putting greater predictability and control back in
the hands of their customers."

“Volantio’s data-driven platform has the ability to transform the travel
experience for customers, while improving profitability for the
industry,” said ITA Software co-founder Dave Baggett, who also
participated in this round.

“At JetBlue Technology Ventures, we like to invest early in innovative
solutions to travel industry challenges,” said Bonny Simi, president,
JetBlue Technology Ventures. “We are impressed how much early traction
Volantio has received for its approach to optimizing revenue and
customer satisfaction through improved capacity utilization.”

“IAG built a mutually beneficial relationship with Volantio through our
Hangar 51 global accelerator which enables start-ups to work with one of
the world’s largest airline groups to trial their products at scale,”
said Glenn Morgan, IAG head of digital business transformation.
“Volantio is led by a strong team that has decades of experience and
we’re delighted to be partnering with this innovative start-up as we
further our commitment to transform the passenger journey and the future
of travel.”

Qantas Group Executive, Strategy, Innovation and Technology Rob
Marcolina, said: “The travel industry and customer needs continue to
evolve and investments in innovations like Volantio are important to
ensure we keep exploring ideas, disrupting the status quo and
discovering new ways of working to deliver better outcomes for our
business and our customers. As a participant in Qantas Ventures’ first
AVRO Accelerator program, Volantio is a great example of the impact that
investment in scale-ups can make.”

Barodawala also highlighted the operational benefits of the YanaTM
platform, which provides a significantly improved customer experience
for passengers on the day of departure.

“There are a number of reasons why an airline might need to recover
extra seats very close to departure,” said Barodawala, citing weather
disruptions, aircraft swaps, and irregular operations as just a few.
“Directly connecting the airline with flexible customers via mobile and
giving passengers the ability to pick an alternative option for
themselves - without waiting in line or staying on hold - is not just
great for customers, it is also great for airlines.”

Volantio has launched both revenue and operations focused versions of
YanaTM with Qantas, Iberia, Volaris, and Alaska Airlines, and
it has a number of additional carriers in the pipeline.

Volantio is a leader in travel technology software focused on
revenue and capacity optimization. Based in Atlanta, GA, Volantio
partners with major airlines globally such as Qantas, Iberia, Alaska
Airlines, Volaris, Jetstar Airways, Emirates, Ethiopian Airlines,
Scoot-Tigerair, and others. The company’s YanaTM platform
enables airlines to generate incremental revenue and reduce operational
costs, while putting greater predictability and control back into the
hands of their customers.

About Ingleside Investors

Ingleside Investors represent the investment interests of the New
York-based Israel family. The firm has a long history of investing
across a range of asset classes, with a particular focus on private
investments in growing companies.

About JetBlue Technology Ventures

JetBlue Technology Ventures invests in, incubates and partners with
early stage startups at the intersection of technology, travel and
hospitality to improve the entire travel experience. The company
prioritizes investments that advance the customer-centric journey;
technology empowered customer service; the future of operations and
maintenance; revenue management, sales & distribution; and new regional
transport ecosystems. Founded in 2016, JetBlue Technology Ventures is a
wholly-owned subsidiary of JetBlue (NASDAQ: JBLU) and is located in
Silicon Valley, Calif. For more information, visit www.JetBlueVentures.com.

About Qantas Ventures

Qantas Ventures was established in January 2017 as the venture capital
arm of Qantas Airways Limited (“Qantas”). Qantas Ventures invests in and
partners with early and growth stage technology companies that have the
capability to revolutionize our customers’ journeys, transform our
operations and disrupt the financial services, wellness, data and
marketing sectors. Qantas Ventures looks to support the best local and
international entrepreneurs who can leverage the Qantas Group’s global
footprint, expertise and unique assets to scale within Australia and
globally. AVRO Accelerator is one sourcing channel for Qantas Ventures,
find out more at qantas.com/avro.

About International Airlines Group

IAG is one of the world's largest airline groups with 547 aircraft
flying to 268 destinations and carrying around 105 million passengers
each year. It is the third largest group in Europe and the sixth largest
in the world, based on revenue. Formed in January 2011, IAG is the
parent company of Aer Lingus, British Airways, Iberia and Vueling. It is
a Spanish registered company with shares traded on the London Stock
Exchange and Spanish Stock Exchanges. The corporate head office for IAG
is in London, UK. In 2017, IAG launched LEVEL a new low cost long haul
airline brand that flies from Barcelona to four transatlantic
destinations and will start flights from Paris in July 2018. IAG
combines leading airlines in Ireland, the UK and Spain, enabling them to
enhance their presence in the aviation market while retaining their
individual brands and current operations. The airlines' customers
benefit from a larger combined network for both passengers and cargo and
a greater ability to invest in new products and services through
improved financial robustness. British Airways and Iberia are members of
the oneworld alliance.